Lately, Unit Linked Insurance Plan – ULIP have gained a lot of popularity, and have become amongst the most sought-after insurance products. ULIP is based on the idea of facilitating investment as well insurance under a single plan. This renders double protection and multiple benefits to the investor.
Before making a decision on investing in ULIP, investors often research on ULIP calculations. This article will focus on giving you some insights on Aegon life ULIP calculator.
Before moving on to learn about ULIP calculator, we will have a look at some of the aspects associated with Aegon Life ULIP.
Who Should Invest in ULIPs?
Almost every investor, whether modern or conventional, can consider investing in ULIPs and gaining out of ULIPs linked to debt funds. However, a certain pool of investors who are aiming at the below can look at ULIP investments.
- Regular savings
- Long-term investments, and
- Gaining access to the market-linked returns.
What Options Do You Have For ULIP Investments?
Aegon offers a number of options for ULIP investment. Each of the options carries a set of benefits, and investment regulations with itself. It is better to consult an expert, understand the product, assess the benefits, make feasibility checks, etc. and then come to a consensus.
Some of the ULIPs offered by Aegon are enlisted below.
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ULIP Plan
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Features
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iMaximize Insurance Plan
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Higher sum insured, additional savings and
income benefit
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Future Protect Plan
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Multiplying amount from different
investments along with life-coverage
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iInvest Insurance Plan
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Enables investment in six different funds
such as blue-chip equity, opportunity, stable, secure, accelerator and debt
funds.
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Rising Star Insurance Plan
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Good for future security for children.
Investment is done in equity markets.
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iMaximize Single Insurance Premium Plan
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Investment is done only once, while the
investor earns profitable returns on the investment for a long time.
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Future Protect Plus Plan
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Generates a pool of finances by
facilitating investment as well as insurance. It also works towards growth of
the finances.
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ULIP Calculator
ULIP calculator is necessary in order to know the amount of cover and corpus required. ULIP calculator is helpful in determining the future value of an investment. In order to figure out and understand the investment plan that will best suit your needs, you need to provide details such as the investment amount, the number of years of investment, the percentage of the post-tax yearly rate of return earned on the investments, frequency of investments, etc.
ULIP Calculator – Get a Free Quote
In order to get a free quote, you need to go through the below steps.
Let us consider that you (as an investor) plan to buy Aegon Life Insurance Plan. The system will ask for the below details.
Click on self for the tab I am investing for.
- Enter your name in the name tab.
- Select your gender image.
- Give your date of birth on the next tab.
- Select your occupation.
- Select the monthly investment, for instance, 2000 INR.
- Select the annual income, for instance, 1 lakh INR.
- Enter your mobile number and email ID.
Later on, the next window will open up.
- Select the benefit option, for instance, option 2 – with additional benefits.
- Select the policy term, for instance, 15 years.
- Select the premium paying term, for instance, 10 years.
- Select the investment frequency, for instance, monthly.
- The investment amount selected will automatically show up.
- Select the sum assured.
Further, select the percentage of the allocation of funds in different market types.
Eventually, the system will give you the total fund value at 8% and 4%. In case of 8%, the total fund value is projected to be around 4 lakh INR, and with 4%, it is projected to approximately 2.68 lakh INR.
Now, to understand the ULIP calculator and how a particular plan works, let us consider the below example.
Mr. XYZ is 40-year-old person who works for a manufacturing company and looks forward to ULIP plan in order to secure his family’s future. There are 3 members of his family, including his wife and child. He purchases the Aegon Life Insurance Plan and selects the option 2 for death benefit. His cover amount is INR 12.5 lakhs, and the policy term duration is 25 years. The payment premium term is 25 years that is annually paid by him. His premium amount is INR 1 lakh, and he has chosen the hundred percent secure fund investment strategy.
After 4 years of purchasing this policy, he dies in an accident. His wife, who was his nominee, is paid a sum of INR 12.5 lakhs. Further, the payment of 1 lakh INR is done from the fifth year. The plan continues even after the death of the investor since the company pays the unpaid premium.
Now, at maturity on the 25th year, there could be two scenarios based on the maturity pay-out. The scenarios are as follows.
- In case the maturity payout is 4%, the nominee will receive a sum of around 31 lakhs (+- some thousands of INR)
- In case the maturity payout is 8%, the nominee will receive a sum of around 56 lakhs (+- some thousands of INR).
Hope the above article on ULIP Calculator proved helpful for you. Consult an expert for more insights and better decision making. Happy Investing!
